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Intesa Sanpaolo S.p.A. (IITSF)

Other OTC - Other OTC Delayed price. Currency in USD
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2.8850+0.0050 (+0.17%)
As of 09:31AM EST. Market open.
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  • Financial Times

    Italian watchdog orders Intesa to halt customers’ transfer to digital-only bank

    Italy’s competition watchdog has ordered Intesa Sanpaolo, the country’s largest lender, to stop migrating customers to its new online service Isybank after receiving more than 5,000 complaints this month from account holders that were shifted without their consent. The Rome-based regulator said on Thursday that it wanted customers to “be put in the condition of choosing whether to keep an account in Intesa Sanpaolo at previous conditions or shift to Isybank”. Isybank, which was launched in June, is Intesa’s latest rollout of a cloud-based service, a key pillar of the lender’s strategy to fend off competition from online services and fintech groups, and Intesa hopes to transfer millions of customers across.

  • Reuters

    Italy's competition watchdog stops Intesa moving clients to mobile bank

    MILAN (Reuters) -Italy's competition authority on Thursday said it had told the country's biggest bank Intesa Sanpaolo to halt the proposed transfer of 2.4 million customers to its new mobile-only service Isybank. The decision is the latest blow to Intesa's efforts to update its digital infrastructure and gradually abandon legacy IT systems in favour of cloud technology. Italy's AGCM antitrust authority opened a probe earlier this month into the way Intesa was transferring clients to Isybank after a raft of complaints which the watchdog said had now reached 5,000.

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